EnQuest (LON:ENQ) Shares Pass Above 200-Day Moving Average – Here’s What Happened

EnQuest PLC (LON:ENQ)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 12.11 and traded as high as GBX 20. EnQuest shares last traded at GBX 19.24, with a volume of 16,137,856 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on ENQ. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 20 price objective on shares of EnQuest in a research report on Thursday, November 13th. Jefferies Financial Group restated a “buy” rating and set a GBX 15 price target on shares of EnQuest in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. raised shares of EnQuest to a “neutral” rating and lifted their price objective for the company from GBX 11 to GBX 25 in a research note on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 22.40.

EnQuest Stock Performance

The company has a debt-to-equity ratio of 298.30, a current ratio of 0.89 and a quick ratio of 0.75. The firm has a fifty day simple moving average of GBX 13.75 and a 200 day simple moving average of GBX 12.11. The company has a market cap of £357.68 million, a price-to-earnings ratio of -3.21, a P/E/G ratio of 0.07 and a beta of 0.25.

EnQuest Company Profile

EnQuest is providing creative solutions through the energy transition.

EnQuest is an independent energy company. We focus on mature late-life assets, responsibly optimising production to provide energy security. Where we can, we repurpose our infrastructure to deliver renewable energy and decarbonisation projects before executing world-class decommissioning.

Shares in the Company trade on the London Stock Exchange (ENQ.L).